Treasure Island Entertainment, part of Genting Hong Kong, has announced Resorts World Hengqin China, a 40 billion yuan (US$6.7 billion) theme park aimed at visitors from neighboring Macao. Phase One of the project is expected to take thirty months to complete at a cost of 15 billion yuan. This "core phase" will include twenty visitor amusement attractions, a performance venue and a cinema. The developers are unconcerned about competition from the nearby Chimelong Ocean Kingdom, which is set to open soon for the Lunar New Year's celebrations, since they feel there are enough potential guests in the Pearl River Delta Region and Macao itself. Resorts World Hengqin China will be on the portion of Hengqin Island reserved for Macanese businesses.